Now, with the holidays looming and toymakers facing strong economic headwinds, the industry is rejoicing that one of its most iconic retailers is back in expansion mode.
“A brand like Toys R Us that still lives in grandparents’, parents’, caregivers’ minds,” Greg Ahearn, president and CEO of The Toy Association and former chief marketing officer at Toys R Us, told Retail Brew. “That the brand is on the way up, I think is great for our industry.”
Since declaring bankruptcy in 2017, Toys R Us has proven surprisingly durable as a brand, even amid a chaotic comeback saga. After a failed attempt to relaunch the company just prior to the pandemic, brand management company WHP Global bought a controlling stake in 2021 and announced plans to open 400 shop-in-shops in Macy’s department stores across the country.
Later that year, WHP built on this momentum with plans to open a larger flagship store at the American Dream retail and entertainment complex in New Jersey, setting the stage for a larger build-out of standalone flagship stores in the years to come.
The latest announcement builds on that progress, with WHP partnering with Go! Retail Group to open eight new flagship stores and 20 “seasonal holiday shops.” One of these flagship stores—located at the Chicago Premium Outlets in Aurora, Illinois—is already open, as well as seven seasonal shops.
Branded experiences: The companies touted the stores’ assortment of popular brands, including Barbie, LEGO, and Hot Wheels, and “easy-to-shop experience,” qualities that are suited to the industry at this time, according to Ahearn: “I think it creates an experience that consumers still want, which is to walk into an in-person retail environment and be hit with the joy and wonder of toys.”
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